Central Bank of BiH Guarantees Monetary Stability, Sberbank Successfully Restructured

SARAJEVO, (Patria) - The Standing Committee for Financial Stability of Bosnia and Herzegovina (SOFS) held a meeting today in Sarajevo to analyze the state of the financial sector in Bosnia and Herzegovina.

The meeting was chaired by the Governor of the Central Bank of Bosnia and Herzegovina (CBBiH), Senad Softić, and attended by the Minister of Finance and Treasury of Bosnia and Herzegovina, Vjekoslav Bevanda, the Minister of Finance of the Federation of Bosnia and Herzegovina, Jelka Milićević, the Minister of Finance of Republika Srpska, Zora Vidović, acting Deputy Director of the Banking Agency of Republika Srpska, Srđan Šuput, Director of the Banking Agency of the Federation of Bosnia and Herzegovina, Jasmin Mahmuzić, and Director of the Deposit Insurance Agency of Bosnia and Herzegovina, Krešimir Šoljić.

It was concluded that the restructuring process for Sberbank BH d.d. Sarajevo and Sberbank a.d. Banja Luka has been successfully completed. All previous risks associated with the former owner have been eliminated, the stability of the banks has been preserved, client and depositor protection has been ensured, thereby achieving the stability of the entire banking system in Bosnia and Herzegovina.

The CBBiH guarantees monetary stability by ensuring that every KM is covered by the euro currency.

It has absolutely fulfilled its task and is supplying cash to all commercial banks in Bosnia and Herzegovina without interruption.

Also, all deposits in commercial banks are insured up to the amount of 50,000 KM, for which the Deposit Insurance Agency of Bosnia and Herzegovina guarantees.

The safety, liquidity, and capitalization of the banking sector in Bosnia and Herzegovina have been confirmed. Banks can meet all the demands of their depositors, including cash withdrawal requests, and taking into account the circumstances under which business is currently conducted, they will maintain business continuity in accordance with the needs of citizens and the economy.